Key Points
- Polish Presidential candidate Slawomir Mentzen promises to establish a Strategic Bitcoin Reserve if elected in 2025.
- Mentzen aims to make Poland a cryptocurrency-friendly market, following the crypto regulatory framework adopted by the European Union.
Slawomir Mentzen, a Polish politician and entrepreneur, has pledged to establish a Strategic Bitcoin Reserve if he wins the 2025 Presidential election.
This announcement follows the trend of pro-crypto political leaders around the world, including the United States. Mentzen’s plan reflects the growing global recognition of Bitcoin as a valuable asset.
Making Poland a Crypto-Friendly Market
Mentzen has also promised to make Poland a crypto-friendly market. The country is already adhering to the MiCA, a clear crypto regulatory framework adopted by the European Union.
In a statement, Mentzen said, “If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators.”
Mentzen, who serves as the chairman of the New Hope party and the co-chairman of the council of leaders of the federal grouping Confederation Freedom and Independence, is hoping to appeal to voters through his crypto-friendly policies. Statista reports that Poland’s cryptocurrency market is expected to reach 7.9 million users by 2025.
Nation-States Adopting Bitcoin
The trend of nation-states adopting Bitcoin was initiated by El Salvador, which currently holds 5.93K Bitcoins worth over $549 million. Bhutan’s Royal Government also holds 12.2K Bitcoins valued at over $1.1 billion.
The U.S. government is contemplating passing the Bitcoin Act, which suggests that the country should purchase 1 million Bitcoins within five years. MicroStrategy Inc founder, Michael Saylor, believes that the U.S. could reduce its national debt by over $16 trillion if it adopts Bitcoin as a reserve asset.
Despite having the highest GDP globally, the U.S. spends more than it earns, leading to a national debt that recently exceeded $36 trillion. This has prompted the creation of the DOGE program, spearheaded by Elon Musk, to improve government efficiency.
If the U.S. adopts Bitcoin as a reserve asset, it is believed that other countries will follow suit. Currently, over 19 countries, including Japan and Singapore, have a debt-to-GDP ratio above 100 percent.
The Impact on Bitcoin’s Market Value
Bitcoin’s price has significantly benefited from its mainstream adoption by institutional investors. The coin is on the cusp of reaching the anticipated psychological target of about $100K for the first time in history, driven by recent bullish momentum.
Furthermore, Bitcoin’s weekly Relative Strength Index (RSI) has surged above the 70 percent level for the first time since April this year.
